4 New IPOs Open Today, October 30: Price Band, GMP and Key Details

4 New IPOs Open Today, October 30: Price Band, GMP and Key Details

The Indian primary market is getting busy as four SME IPOs open for subscription today, October 30, 2026. The new issues include HGS (India), Johnsoncab Electricals, Maxwell Engineering Solutions and Vectras Enprocon.

Investors looking for new IPO opportunities will have several companies to track over the coming days. Among these, Maxwell Engineering Solutions is attracting attention because of its reported grey market premium (GMP), while the other issues are also worth monitoring for their business profiles, pricing and issue details.

Here is a closer look at the four IPOs opening today.

IPOs Opening Today: October 30, 2026

Issue details are based on available offer information and may be updated. Check the final RHP for confirmed figures.

1. HGS (India) IPO

HGS (India) is launching its SME public issue with a price band of ₹114 to ₹120 per share. The company is offering up to 28.80 lakh equity shares, with an issue size of approximately ₹34.56 crore at the upper end of the price band.

The issue comprises a fresh issue and an offer for sale. Investors should review the company's financials and the purpose of the fresh issue before making an application decision.

2. Johnsoncab Electricals IPO

Johnsoncab Electricals is another SME issue opening today. Its price band has been fixed at ₹190–₹200 per share, and the proposed listing is on the BSE SME platform.

The company is entering the public market through the SME IPO route. Investors should read the offer document to understand its operations, financial position, customer base and issue proceeds.

3. Maxwell Engineering Solutions IPO

Maxwell Engineering Solutions is one of the issues attracting attention ahead of its opening. The company operates in the precision-engineering segment and manufactures components used in underwater pelletising systems and polymer-processing applications.

Its products include die plates, blades, cutter hubs and driving bushes. It also provides customised manufacturing, repair and refurbishment services.

The reported GMP was ₹27 in the latest available company-specific update dated October 28. This is an unofficial figure and should not be treated as a guaranteed listing premium.

Investors should pay attention to the company's manufacturing capabilities, profitability, valuation and customer concentration before considering the issue.

4. Vectras Enprocon IPO

Vectras Enprocon is an SME company operating in engineering, procurement and construction (EPC), with a focus on environmental engineering solutions.

Its business includes industrial wastewater treatment, sewage treatment plants, effluent treatment plants and air-pollution control systems.

The company operates in a sector connected to industrial infrastructure and environmental management. Investors should assess its order book, execution record, working-capital requirements and financial performance.

Which IPO Has the Highest GMP Today?

Grey market premium figures are unofficial and can change throughout the day. Maxwell Engineering Solutions had a reported GMP of ₹27 in its October 28 update, while current figures for the other issues should be checked before publication.

For the latest figures, visit the GMP IPO Watch Live GMP Tracker.

Remember that GMP does not guarantee listing gains. It is only an informal indicator of market sentiment.

Important IPO Dates to Remember

The four issues are scheduled to close on November 3, 2026.

These dates are tentative and should be checked against the latest exchange and company announcements.

What Should Investors Check Before Applying?

Before applying for any of these IPOs, investors should consider more than the price band or GMP.

• Financial performance: Review revenue, profit, margins and cash flow.

• Valuation: Compare the issue valuation with relevant listed companies.

• Business model: Understand what the company sells and who its customers are.

• Issue proceeds: Check how the company plans to use the IPO money.

• Risks: Read the risk factors in the RHP, including debt, customer concentration and working-capital requirements.

• GMP: Use it only as an unofficial market indicator, not as the basis for an investment decision.

SME IPOs can also have higher application amounts and lower liquidity than mainboard issues. Investors should understand the associated risks before applying.

Final Takeaway

October 30 brings four new SME IPOs to the Indian primary market: HGS (India), Johnsoncab Electricals, Maxwell Engineering Solutions and Vectras Enprocon.

Each company operates in a different business segment, so investors should not treat all four offerings in the same way. Reviewing their financial performance, valuations, offer documents and business risks is more useful than simply comparing their reported GMP figures.

Keep checking GMP IPO Watch for the latest IPO GMP, subscription status, allotment information and listing updates.

Disclaimer: This article is for informational and educational purposes only. It is not investment advice or a recommendation to apply for any IPO. Grey market premiums are unofficial and do not guarantee listing gains. Please read the official offer documents and consult a SEBI-registered investment adviser if required.